PRUDENTIAL PLC

PRU
Delayed London Stock Exchange - 06/02 05:37:11 pm
1098.5GBX
+0.83%

Prudential : Says It Is Financially Resilient; Mulls Jackson IPO Options

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03/24/2020 | 04:09 am

By Sabela Ojea

 

Prudential PLC said Tuesday that it is financially resilient and that it is still considering options other than the minority initial public offering it is preparing for its U.S. business Jackson.

"While the full consequences of Covid-19 are still emerging, Prudential has a highly resilient business model and remains well placed to continue to create value for shareholders," Chief Executive Mike Wells said.

The insurance-and-investment business said that, alongside preparations for a minority initial public offering for Jackson, it is evaluating other options.

Prudential said on March 11 that the best way to introduce a third party to finance the U.S. arm was "to seek a listing of Jackson in the U.S. in due course, subject to market conditions."

Shares at 0842 GMT were up 55.60 pence, or 7%, at 851.80 pence.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

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